News

AT $208.9 MILLION, ANDOVER CONCLUDES LARGEST FUND-RAISING CAMPAIGN IN INDEPENDENT SCHOOL HISTORY

July 24, 2002
Contact: Sharon Britton, Director of Communications
978-749-4295


Phillips Academy, better known as Andover, concluded the largest fund-raising campaign in independent school history this month, reporting a total of $208.9 million in gifts and pledges for specific campaign priorities received throughout the six-year endeavor. It is the first independent school campaign to top $200 million.

Campaign Andover was launched in 1996 to raise funds for endowment, faculty salaries, facilities, financial aid scholarships and technology. Facility projects funded by the campaign include a new admission center and a new hockey rink, renovation and expansion of Cochran Chapel, new faculty apartments in a number of renovated dormitories and a $28 million science center, currently under construction.

"A magnificent philanthropic effort, Campaign Andover has strengthened this great old school to its bedrock," said David M. Underwood, campaign chairman and president of the Board of Trustees. "Some 17,000 loyal and generous alumni, parents and friends made gifts to the campaign."

In addition to the total of $208.9 million for campaign priorities, Andover received $7.7 million in non-campaign gifts during this time to build a new stadium and to provide the academy and its museums and libraries with donations of artwork, equipment and rare books. The school also received $16 million in revocable trusts and bequest intentions that are not included in the campaign total but will provide vital funding for the school in years to come.

"The success of Campaign Andover has strengthened the educational program in all its aspects - academic, residential and athletic," said Head of School Barbara Landis Chase. "The campaign has enabled us to maintain our leadership position in faculty salaries and financial aid scholarships and to make facilities improvements that will serve our students and teachers well into the future. "

Campaign Andover is the largest independent school fund-raising effort to conclude since Deerfield Academy, Deerfield, Mass., wrapped up its impressive $156 million fund-raising campaign in June 2001.

Phillips Academy is an independent coeducational high school of 1,070 students, known for its rigorous academics and for a diverse student and teaching community. The academy is located in Andover, Mass., 25 miles north of Boston. Notable alumni include former President George Bush, President George W. Bush, U.S. Rep. Patrick J. Kennedy, D–R.I., U.S. Sen. Lincoln D. Chafee, R–R.I., and New England Patriots Coach Bill Belichick.




© Phillips Academy, 2002